Transcat (NASDAQ:TRNS) Stock Crosses Below 200-Day Moving Average – Here’s Why

Transcat, Inc. (NASDAQ:TRNS)’s stock price passed below its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $83.81 and traded as low as $83.50. Transcat shares last traded at $85.95, with a volume of 208,380 shares trading hands.

Analyst Upgrades and Downgrades

Several brokerages have commented on TRNS. Wall Street Zen upgraded Transcat from a “sell” rating to a “hold” rating in a research note on Sunday, June 28th. Northland Securities cut Transcat from an “outperform” rating to a “market perform” rating and set a $95.00 price target on the stock. in a research report on Wednesday, August 5th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Transcat in a report on Tuesday, August 25th. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $95.00.

Transcat Stock Up 1.3%

The company has a debt-to-equity ratio of 0.36, a current ratio of 2.49 and a quick ratio of 2.11. The company has a fifty day moving average price of $88.03 and a 200 day moving average price of $83.90. The company has a market cap of $833.05 million, a PE ratio of 239.99 and a beta of 0.68.

Transcat (NASDAQ:TRNS) last announced its earnings results on Tuesday, August 4th. The scientific and technical instruments company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.13. Transcat had a net margin of 0.99% and a return on equity of 5.56%. The business had revenue of $92.95 million for the quarter, compared to the consensus estimate of $86.55 million. As a group, analysts anticipate that Transcat, Inc. will post 1.74 EPS for the current year.

Insider Buying and Selling at Transcat

In related news, Director Craig Cairns acquired 1,050 shares of the company’s stock in a transaction dated Thursday, August 6th. The stock was bought at an average cost of $93.97 per share, with a total value of $98,668.50. Following the acquisition, the director owned 1,480 shares of the company’s stock, valued at approximately $139,075.60. The trade was a 244.19% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Christopher P. Gillette sold 504 shares of Transcat stock in a transaction on Friday, August 7th. The stock was sold at an average price of $94.23, for a total transaction of $47,491.92. Following the sale, the director directly owned 200 shares of the company’s stock, valued at $18,846. This represents a 71.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Transcat

A number of large investors have recently modified their holdings of TRNS. BlackRock Inc. bought a new stake in Transcat in the 2nd quarter worth approximately $67,445,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in shares of Transcat during the second quarter worth approximately $37,106,000. Wellington Management Group LLP bought a new stake in shares of Transcat in the 2nd quarter worth approximately $29,409,000. Dimensional Fund Advisors LP lifted its holdings in shares of Transcat by 3.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 262,033 shares of the scientific and technical instruments company’s stock worth $19,244,000 after acquiring an additional 9,266 shares during the last quarter. Finally, Bamco Inc. NY purchased a new stake in shares of Transcat in the 2nd quarter valued at $17,649,000. 98.34% of the stock is owned by hedge funds and other institutional investors.

Transcat Company Profile

Transcat, Inc provides calibration, repair, inspection, and related services for test, measurement, and control instruments. Its offerings help customers maintain the accuracy, reliability, and compliance of equipment used in manufacturing, laboratories, utilities, aerospace and defense, pharmaceuticals, biotechnology, and other regulated or quality-sensitive industries.

The company operates calibration laboratories and service facilities that support a broad range of equipment, including electrical, temperature, pressure, dimensional, mechanical, and process-control instruments.